Spotted a suitable target today.  Three masted ship headed east through the Keys.  Even with full sail deployed, it still moved slower than we did with our sails reefed.  Definitely loaded down with something heavy.  Probable Spanish Treasure ship carrying a shipment of gold, possible Frigate carrying a military payroll.  Either way, good for us.

We spent the rest of the day tailing her, moving into position.  No sign that she's noticed us yet.  We should be ready for an attack by first light tomorrow.